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CapEx figures, production capacity figures, and inventory levels of MLCC suppliers are constantly being tracked and updated on a regular basis. TrendForce also provides analyses on the price trends and inventory statuses of production-related materials.
Q2 MLCC prices remain stable overall, with minor adjustments for high-cap special specs; supply stability prioritized. Global tensions raise costs, AI demand strong vs. mild consumer electronics.
Rising oil prices and freight costs heighten inflation risks, with AI supporting demand while ICT stockpiling turns conservative. Prolonged geopolitical conflicts sustain high energy costs, potentially sparking global recession and monetary tightening. Consumer electronics face supply shortages and price hikes, slowing market growth. In contrast, AI servers and accelerators show steady demand, with high-end MLCC orders robust, though policies may pressure cloud providers' capital spending.
Tariff shifts and geopolitical conflicts drive up supply chain costs. While AI infrastructure remains robust, PC and smartphone markets weaken under rising component prices. This polarization, coupled with Intel’s price hikes, risks further dampening consumer demand.
The MLCC market in the fourth quarter shows polarization in shipments, with Japanese and Korean suppliers benefiting from strong AI infrastructure orders and growth, while Taiwanese and Chinese suppliers face declines due to weak consumer electronics. Overall demand forms a K-shaped development, with consumer electronics underperforming in peak season amid economic slowdown and geopolitical influences, while AI demand remains robust. High-end MLCC demand continues to grow, with strict inventory control and capacity shifts toward high-end products.
Global instability and rising raw materials drive up electronic component costs; AI infrastructure demand boosts memory super cycle, shifting ODMs' negotiation to stable pricing for supply security. Supply chain price pressures spread, high-end MLCC demand surges, suppliers optimize capacity toward premium items and localize in China to cut costs. Market sees easing price declines, with supply stability key.
Supplier pricing strategies succeed, boosting profits, but beware over-tightening consumer production capacity and inventory. Geopolitical tensions cause raw material price fluctuations, with mixed US economic data and weak employment, plus China's manufacturing contraction. Consumer electronics demand cools, while AI servers maintain high loads. MLCC industry benefits from AI and automotive high-end needs, with pricing consensus stabilizing bottoms, yet low-price items face artificial shortages from strict capacity controls, requiring flexible adjustments for supply-demand balance.
Global geopolitical uncertainty weakens the dollar, driving up material prices and squeezing passive component profits. PC sector faces AI-driven supply squeezes, rising costs, and CPU shortages, leading to weak consumer MLCC orders and supplier cutbacks for stability. In contrast, AI data center demand surges, boosting high-end MLCC shipments, with suppliers shifting capacity to high-margin areas. Industry shows K-shaped recovery, requiring flexible capacity adjustments for supply-demand balance.
Raw material prices rise due to energy transition, geopolitics, tariffs, and AI demand, impacting electronic costs. AI infrastructure orders are strong, boosting high-end MLCC shipments, but ICT orders decline, facing supply chain price pressures. MLCC quotes remain stable with controllable costs, yet weak ICT market poses challenges. Global tech industry shows polarization, needing to address policy uncertainties.
Global political and economic turbulence marks the start of 2026. CES unveils the era of Embodied AI. While AI thrives in robotics and autonomous driving, consumer electronics grapple with tariffs and rising costs. Supply chains must balance AI growth against weakened consumer electronics demand.
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